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GE shares rise to post-crisis high on US outlook

July 19, 2013 • Business


FILE – In this Dec. 2, 2008 file photo, a General Electric (GE) sign is seen on display at Western Appliance store in Mountain View, Calif. General Electric is reporting a slight gain in net income in the second quarter and said Friday July 19, 2013 U.S. operations are picking up steam. (AP Photo/Paul Sakuma, file)

NEW YORK (AP) — An improving outlook for the U.S. economy and signs of stabilization in Europe sent General Electric shares to their highest level since 2008 despite modest quarterly results.

“Orders in the U.S. were the strongest in some time,” CEO Jeff Immelt said on a conference call with investors following the release of the company’s second-quarter results Friday.

Immelt said the U.S. economic environment remained “mixed,” but his outlook marked an improvement from recent quarters, when he expressed more caution about the U.S. market.

GE, based in Fairfield, Conn., has a broad view of the global economy because it sells a wide variety of industrial equipment and appliances around the world, including jet engines, medical diagnostic equipment, Login to read more

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